Global Modular Construction Market 2023-2027

Global Modular Construction Market 2023-2027

Technavio has been monitoring the modular construction market and is forecast to grow by $33 bn during 2022-2027, accelerating at a CAGR of 6.77% during the forecast period. Our report on the modular construction market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising demand to eliminate on-site constraints, rising global construction, and infrastructure development activities, and improving the quality and energy efficiency of modular constructions.

Technavio's modular construction market is segmented as below:

By Application

• Residential
• Commercial

By Type

• Permanent
• Relocatable

By Geography

• North America
• Europe
• APAC
• Middle East and Africa
• South America

This study identifies the increasing awareness of custom-built facilities with minimum budgets as one of the prime reasons driving the modular construction market growth during the next few years. Also, increasing concern towards depleting natural resources and increasing adoption of unified platforms for authentication purposes will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the modular construction market covers the following areas:

• Modular construction market sizing
• Modular construction market forecast
• Modular construction market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading modular construction market vendors that include ATCO Ltd., Bechtel Corp., McGRATH RENTCORP, Fluor Corp., KLEUSBERG GmbH and Co KG, Laing O Rourke, Lendlease Corp. Ltd., Modulaire Group, Red Sea International Co., Skanska AB, THE BOUYGUES GROUP, Amana Contracting and Steel Buildings LLC, ELEMENTS EUROPE, GUERDON LLC, KOMA MODULAR S.r.o, Kwikspace Pty Ltd., PREMIER MODULAR, STARRCO, Wernick Group Holdings Ltd., and WESTCHESTER MODULAR HOMES. Also, the modular construction market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.